Indonesia is among the world's fastest growing markets for meat, poultry and seafood, driven by growing local demand for convenient and satiating foods. Producers become more innovative to address the great demand and shifts in consumer preferences.
Between 2011 and 2015, the Indonesian processed meat and poultry market grew by 26.7 percent annually and is estimated to have reached a value of USD 1.2 billion in 2016. In comparison, India's processed meat and poultry market expanded by 22 percent per year in the five-year span, followed by Vietnam (15.5 percent), China (13.9 percent), and Brazil (10.9 percent).
Indonesia also saw its processed fish and seafood market growing by 19.5 percent per year between 2011 and 2015, faster than Turkey (11.8 percent), South Africa (11.2 percent) and Russia (10.8 percent). Only India registered faster annual growth of 24.9 percent during the period. Indonesia's processed fish and seafood market is estimated to have hit USD 2.4 billion in value last year, six times more than the seafood markets in India, Turkey and South Africa combined.
Global market intelligence agency Mintel, which published the data above, traces this spectacular growth back to the need for convenience and product innovation. In the Asia Pacific region changing lifestyles of the consuming class lead to less and less time spent on preparing food. Thus, matters of convenience such as ease of use and microwaveability become more important. Moreover, in Indonesia 40 percent of the urban population shop close to work or home due to a lack of time, 25 percent prefer to buy smaller, bite-size packs and 39 percent look for snacks that keep them full for longer time, like high-protein snacks. Producers of processed and prepared food in the region address these shifts. As a result, the Asia Pacific region accounts for almost a quarter of global innovations for the processed meat, poultry and fish products.